How to Deal with Persistent Trade Imbalances within the Eurozone

Research output: Chapter in Book/Report/Conference proceedingChapter


The EU should make member states running persistent trade surpluses within the euro area pay a penalty. The EU’s existing Macroeconomic Imbalance Procedure should be toughened by imposing a fine on surplus countries equivalent to 3 percent of the value of the surplus. At current levels of surpluses, this would result in an annual fine of roughly €4 billion for the Netherlands and €2 billion for Germany.
Original languageEnglish
Title of host publicationTwelve Stars
Subtitle of host publicationPhilosophers Chart a Course for Europe
PublisherBertelsmann Stiftung
ISBN (Print)978-3-86793-874-7
Publication statusPublished - 2019

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